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Monday, January 23, 2012

Embedded Gingrich Freddie Mac Contract, Romney's Freddie Mac Fannie Mae Investments

By Susan Duclos

Embeddable Freddie Mac contract below post.

Earlier it was reported that after all day Mitt Romney attacks against Newt Gingrich with Romney challenging Gingrich to describe the work he did for Freddie Mac, Newt authorized the release of his Freddie Mac contract, which is embedded below.

What Romney neglected to mention but which is public little known knowledge is that Romney himself has substantial money invested in Freddie Mac and it's sister company Fannie Mae.


Romney's most recent financial disclosure report listed several investments in U.S.-backed lenders Fannie Mae and Freddie Mac. Romney, Gingrich and other GOP critics repeatedly have all singled out the two quasi-government entities as prime villains in the housing crisis that played a central role in the nation's long and deep recession.

While continuing to hammer Gingrich for his consulting work for Freddie Mac, the Romney campaign sought to deflect questions about the former Massachusetts governor's investments. They include a mutual fund worth up to $500,000 that includes assets from both lenders among other government income, and separate investments in each of the lenders in Romney's individual retirement account, each worth between $100,000 and $250,000.

Romney campaign officials said Monday that a trustee handles the investments and that Romney had no role in choosing or managing them.

Romney claims Gingrich worked as a lobbyist for Freddie Mac and Gingrich maintains he was a paid consultant. No mention in tonight's debate of Romney's investments into the companies in question.

Freddie Mac Agreement

This topic led to heated exchanges in the Tampa, Florida Republican debate tonight.

Expect the battle in Florida to heat up more between Romney and Newt since recent polling, three now with the latest PPP poll added to the Insider Advantage and Rasmussen polls reported on earlier in the day, all show Gingrich has gone from trailing Romney to leading in the Florida polls. Gingrich has also caught up to Romney in the national polls according to Gallup Election 2012 tracking (Right side at Gallup link).

While both Santorum and Paul performed well in tonight's debate, the fighting back and forth at the beginning of the debate focused more on Romney and Gingrich.